If output growth exceeds population growth for a country,
A. Average living standards will increase.
B. This country must have overcome the problem of opportunity costs.
C. Per capita GDP will decrease.
D. GDP must have fallen at a very rapid rate.
Answer: A
You might also like to view...
Creative destruction:
A) leads to the benefit of all economic agents. B) is more likely in an economy with extractive institutions. C) leads to losses of all economic agents. D) is more likely in an economy with inclusive institutions.
If you invest $4,000 in a savings account paying 3 percent interest, how much will your investment be worth in 25 years?
What will be an ideal response?
Suppose that a bond promises to pay $107 next year but the interest rate falls from 7 percent to 3 percent per year. How much will the price of the bond be and why?
What will be an ideal response?
Suppose the market price of corn is $5.50 per bushel. What are the three conditions that will need to be satisfied for the corn market to be in equilibrium at this price?
What will be an ideal response?